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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Tue Jun 19, 2007 2:18 am Post subject: Nationwide Launches New Range of Fixed Rate Bonds Paying up |
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By: Nationwide
Nationwide Building Society has launched a new range of Fixed Rate Bonds offering highly competitive interest rates and guaranteed returns for savers. The following new Fixed Rate Bonds will be available:
One year Fixed Rate Bond
Two year Loyalty Fixed Rate Bond
One and two year Fixed Rate e-Bonds
Nationwide’s new two year Loyalty Fixed Rate Bond, paying a highly competitive rate of 6.15%, will provide a guaranteed return for savers and is available to over 8 million existing members.
A new one year Fixed Rate Bond paying 6.10% and a new range of one and two year Fixed Rate e-Bonds paying 6.15% will be available to new and existing members.
Nationwide’s previous range of Fixed Rate Bonds were withdrawn from sale at close of business on Thursday 14 June 2007.
Tim Hughes, Nationwide’s head of savings, said: “We have a range of excellent deals offering guaranteed returns for savers. All of our Fixed Rate Bonds now pay over 6.00% and members can benefit from a very competitive rate of 6.15% on our two year Loyalty Fixed Rate Bond and e-Bonds.
“This is a good time for savers to review their savings portfolios and make sure they are benefiting from the competitive rates which are currently available.”
For further information: Roy Beale, Tel: 01793 655689 roy.beale@nationwide.co.uk Sue Knight, media relations manager, Tel: 01793 655196, sue.knight@nationwide.co.uk
Notes :
Competitor comparison – One and Two Year Fixed Rate Bonds
Nationwide Abbey Alliance & Leicester Birmingham Midshires Bradford & Bingley Halifax Lloyds TSB Northern Rock
1 Year 6.10% 5.75% 5.75% 6.35% 6.00% 6.00% 5.50% 6.10%
2 Year 6.15% 5.75% - - 6.10% 6.05% 5.75% 6.10%
Source: Moneyfacts
Competitor comparison – One Year Internet Bonds
Nationwide 1 Year e-Bond Bradford & Bingley 1 Year e-Bond Egg 1 Year Fixed Rate Bond* Halifax Web Saver Fixed Rate 1 Year HSBC 1 Year Online High Interest Deposit**
6.15% 6.10% 6.00% 6.30% 5.75%
Source: Moneyfacts * Available to Egg Savings Account holders only ** Available to HSBC internet banking customer only. Minimum investment: £2,000; Maximum investment: £50,000
Competitor comparison – Two Year Internet Bonds
Nationwide 2 Year e-Bond Halifax Web Saver Fixed Rate 2 Year
6.15% 6.25%
Source: Moneyfacts
Details of Nationwide’s new Fixed Rate Bonds are below:
One Year Fixed Rate Bond and Fixed Rate e-Bonds (annual interest)
AER Gross p.a. Net p.a.
One Year Fixed Rate Bond 6.10% 6.10% 4.88%
One Year Fixed Rate e-Bond 6.15% 6.15% 4.92%
Two Year Fixed Rate e-Bond 6.15% 6.15% 4.92%
One Year Fixed Rate Bond and Fixed Rate e-Bonds (monthly interest)
AER Gross p.a. Net p.a.
One Year Fixed Rate Bond 6.06% 5.90% 4.72%
One Year Fixed Rate e-Bond 6.11% 5.95% 4.76%
Two Year Fixed Rate e-Bond 6.11% 5.95% 4.76%
Two Year Loyalty Fixed Rate Bond (annual interest)
AER Gross p.a. Net p.a.
£1-£2,000,000 6.15% 6.15% 4.92%
Two Year Loyalty Fixed Rate Bond (monthly interest)
AER Gross p.a. Net p.a.
£1-£2,000,000 6.11% 5.95% 4.76%
Fixed Rate Bonds and Fixed Rate e-Bonds:
The one year Fixed Rate Bond and one and two year Fixed Rate e-Bonds may be withdrawn without notice
Any Nationwide Bond can be opened with a minimum investment of just £1
Members already holding a Nationwide Bond can take out any of the new bonds available as there is no limit on the number of bonds a saver can hold, only an upper investment limit of £2,000,000 on Fixed Rate Bonds and £3,000,000 on Fixed Rate e-Bonds
One year bonds can be closed at any time subject to the loss of 90 days’ interest. The two year Fixed Rate e-Bond can be closed in the first year subject to the loss of 120 days’ of interest, and in the second year subject to the loss of 90 days’ interest
Members who want a monthly income from their savings can fix their income by taking advantage of the monthly interest option
Nationwide Fixed Rate e-Bonds are only available online through a FlexAccount and are operated through the Internet Bank
Loyalty Fixed Rate Bond:
The Loyalty Fixed Rate Bond is only available to existing customers with three year’s membership
The rate on the Loyalty Fixed Rate Bond will be fixed for two years and may be withdrawn without notice
Loyalty Fixed Rate Bonds may be held jointly where both holders are qualifying members of three years or more. Customers who only hold a credit card, stand-alone insurance product or accounts issued by the Society’s subsidiaries do not qualify
The bond is not limited to one per member and will be available throughout the year, although the rate payable will change on different tranches
Closures on Loyalty Fixed Rate Bonds are allowed at any time but are subject to 90 days’ notice or loss of 90 days’ interest. No part withdrawals are allowed
Qualifying members should visit their local branch or call 08457 30 20 10 for further information
Nationwide’s one and two year Fixed Rate ISA Bonds remain available at 6.05% gross/AER.
Details of changes to the bond product range:
One year Fixed Rate Bond at 5.80% gross/AER (5.65% AER monthly interest), one and two year Fixed Rate e-Bonds at 5.90% gross/AER (5.75% AER monthly interest), and two year Loyalty Fixed Rate Bond at 6.00% gross/AER (5.80% AER monthly interest) were withdrawn at close of business on 14 June 2007
New rates are effective from 15 June 2007 |
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